One of a couple of different models that replicate the original mountain bikes.  This one is supposed to remind you of Gary Fisher's 1974 Klunker.  It has the Schwinn Excelsior style frame, Brooks leather saddle, cruiser-type bars and older looking tires, rims and pedals.  They used fairly mid-range parts to keep the price low.  I assume this was because most people would use it as a coffee bike or town bike